Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 08, 2016 08:15 ET

December 2016 Housing Starts in the Sherbrooke CMA

MONTREAL, QUEBEC--(Marketwired - Dec. 8, 2016) - Housing starts in the Sherbrooke census metropolitan area (CMA) were trending at 1,043 units in November, compared with 842 in October, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

"In November, the housing starts trend in the Sherbrooke CMA was up from the previous month, a first in nearly six months. This increase was attributable to the start of several rental housing projects. Despite this one-time rise, the number of housing starts should be down this year in the area," said Rosemarie Bégin, Market Analyst at CMHC.

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analyzing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets, which can be quite variable from one month to the next.

The stand-alone monthly SAAR was 2,064 units in November, rising from 1,288 in October.

Preliminary housing starts data is also available in English and French at the following link: Preliminary Housing Starts Tables.

As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

For more information, visit our website at www.cmhc.ca or follow us on Twitter, YouTube, LinkedIn and Facebook.

Additional data is available upon request.

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To view the graph and tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/1079301e_TABLES.pdf

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